days to setup your BVI Company + Singapore bank account

The Futurebooks difference:

Remote account opening with a major Singapore bank
Electronic documentation and e-signatures
BVI Companies Act expertise – preference shares, buybacks

What you need to know about British Virgin Islands incorporation

The ease of administration of BVI companies, coupled with the stability of having an internet banking enabled account with one of Singapore’s major banks. Banks here are comfortable with BVI companies, and Futurebooks ensures that you are well prepared for the initial KYC process.

Companies are required to maintain their transactional documents such as invoices, expense receipts and bank statements for a period of five years.
There is no company tax in BVI. There are no annual accounting and audit requirements either. This makes BVI a great jurisdiction for investment holding companies since there are no requirements to consolidate.

A BVI Company managed and controlled outside of Singapore, is considered a non-resident of Singapore. Singapore’s taxation system is territorial, and only taxes income sourced or deemed sourced in Singapore. As such a BVI company is not subject to Singapore taxation or reporting, merely by its usage of a Singapore banking account.

Please do consult with us on your specific case, as the above should not be construed as general taxation advice.

Information on beneficial ownership and company financials are not required to be filed with BVI’s Registry Of Corporate Affairs. The Register Of Directors is filed with Registrar but is not available for public search.

For added privacy during the incorporation process ask for our end to end encrypted email powered by Virtru, and feel free to make payments in Bitcoin, Ethereum, Litecoin or any leading crypto currency.

The documents required for company formation are:

  • Identity and address proof documents of directors and shareholders
  • Business Profile or Certificate Of Incumbency for corporate directors or shareholders
  • Scanned documents are sufficient, and notarization is not required
  • Non-English documents would need to be translated into English.
  • Futurebooks prepares the rest of the incorporation documents for e-signatures

Once the company is formed, we purchase the Certificate Of Incumbency for the newly incorporated company. At least one director is required to visit Singapore for a bank opening meeting held at Futurebooks office. We work with all the top banks in Singapore, and have cultivated a network of relationships.

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Our services Fees (US$) Documents required & timeline
The Essentials
Incorporation of Company Limited By Shares 

  • Certificate of incorporation
  • Registered Agent and Address in BVI
  • Register Of Directors as required under the Business Companies (Amendment) Act  2015
  • Inclusive of all government fees
one time
5 days
Electronic copy of ID & address proof for all Directors & Shareholders
Corporate Secretary

  • Corporate Secretary officially appointed on Registry of Corporate Affairs
  • Required add on
per year
Account opening with top Singapore bank

  • Internet banking enabled
  • In USD, SGD, EUR and others
  • International Visa / Mastercard
one time
10 days
Visit by one shareholder to Singapore for account opening meeting. Remote account opening option for premium banking.
Certificate Of Incumbency

  • Submission of updated Registers
  • Submission of UBO declaration
  • Required for bank account opening
one time
10 days
Singapore mailing address
Banks in Singapore are required to send physical statements for corporate accounts

  • Singapore mailing address for bank
  • Scanning of mails received
per year
Company renewal

  • Registered agent in BVI
  • Economic Substance Classification annual submission
  • Government License Renewal Fees
per year
Add Ons
Corporate Director for Privacy

  • Corporate director in BVI
  • Acts on instructions of shareholder
per year
Accounting support

  • Bookkeeping and bank reconciliation
  • Annual management reports in compliance with International Financial Reporting Standards
per year
15 days after FYE


Schedule a call with us to know more about our BVI incorporation package.

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